Tuesday, 5 May 2015
Last updated 8 hours ago
Feb 7 2012 | 11:18am ET
North Carolina's main state public pension fund is set to add billions of dollars to its hedge fund allocation.
Having won legislative approval to almost double its hedge fund investments last year, the $71.8 billion North Carolina Retirement System is set to take advantage with a series of new searches for credit and equity hedge funds. No requests for proposals will be issued, with managers picked and hired on an "as needed basis," spokeswoman Julia Vail told Pensions & Investments.
The system plans to invest as much as $2 billion in new stock hedge funds over the next three to five years, a 6% allocation. North Carolina will focus on long/short strategies, Vail said.
It will also invest about $360 million in credit funds over the next two years.
North Carolina currently has about $2.44 billion invested in hedge funds, or 3.4% of its assets.
The system is also planning to invest a 2.5% increase in its broadly diversified, non-equity-based hedge fund strategies allocation allowance in private equity.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…